Trump not trying to intervene in currency markets: Mnuchin

"There's no question that the weakening of the currency creates an unfair advantage for them", Mnuchin said.

Treasury Secretary Steve Mnuchin said Friday that the Trump administration is considering the possibility of removing a Russian aluminum company from a list of sanctioned companies as the company seeks to reconcile with the US government.

Mnuchin said he didn't think it was "a mistake" for the president to weigh in on the Fed's policy decisions, noting Trump's background as a real estate developer makes him aware of interest rates. "I just want to assure you that this was not meant to put pressure on the Fed or jeopardise the Fed's independence".

"If the right people were there, we'd be meeting", Mnuchin told Reuters in an interview on Friday.

Mnuchin's comment was the latest indication the Trump administration was trying to aid sanctions-hit Rusal, which has taken a series of steps to try to appease the USA government and get the restrictions lifted.

"Although the objective is to cut the trade deficit, the desire to do that is for them to open up their markets so that we can compete fairly, and we can grow exports", he said.

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